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Leading Cryptocurrency Hardware Wallet Ledger has warned its users about a new fraud tactic targeting unsuspecting XRP holders. Ledger stated that the criminals have created an unauthentic version of the Ledger Live App to steal their hard-earned XRP from users. Ledger posed as an employee of the criminal company and persuaded users to share their 24-word recovery phrase. As and when users share their recovery phrase, scammers use it to gain unlimited access to the XRP coins. Scammers are using fake Ledger Live apps & posing as Ledger employees to steal your hard-earned XRP.
XRP Holders' Tips for Protecting XRP
[embed]https://twitter.com/Ledger_Support/status/1639928800833159170[/embed] Ledger did not disclose how many XRP tokens have been stolen through this scam or how many users are affected by these scam tactics. The leading crypto hardware wallet provider shared various tips to protect XRP holders from falling victim to these con artists. Ledger cautioned XRP holders against entering their recovery phrase into any website or app. Users are also advised to beware of malicious messages posing as employees. The company reiterated that it never asked customers to share their recovery phrases via DMs.
Scams involving XRP on the rise
Fraudsters have recently attacked various attempts to steal XBP tokens from investors. Recently, fraudsters hacked News24's official Twitter account and advertised a fake gift scam. Bad Actors Ripple CEO Brad Garlinghouse stated they are offering 100 million XBP to value Ripple users for continued support for the project. An illegal group also hacked Twitter because of the Indian Commission in Malawi for promoting the same gift scam. It is not surprising to see various fraudsters attempting to steal XRP from investors. If the court rules in favour of Ripple against the SEC the price of XRP is expected to increase significantly.